Neometals Ltd. said Oct. 4 that it signed a memorandum of understanding with Chinese research organization Institute of Multipurpose Utilization of Mineral Resources Chinese Academy of Geological Sciences, for the 50/50 joint development of the Barrambie titanium-vanadium project in Western Australia.
The MOU will commence with evaluation activities, which include a hydrometallurgical processing demonstration path.
In May, Neometals' feasibility study for the project outlined a posttax net present value of A$199 million, discounted at 10%, with a 15% internal rate of return and a 5.1-year payback period.
